São Paulo
In the 4th quarter of 2023, the industrial and logistics condominium market in the state of São Paulo stood out due to the following indicators. The total stock grew, reaching 18.23 million m², with 398 thousand m² corresponding to new projects delivered. The vacancy rate increased to 10.68%, equivalent to 1.94 million m² of spaces available for lease. With a reduction in the construction activity, totaling 1.77 million m², demand also decreased, resulting in a reduction in gross absorption to 527 thousand m². The average rental asking price rose to R$25.84/m² per month.
In the Class A industrial and logistics condominium segment, net absorption reached 332 thousand m², while the vacancy rate increased to 11.33%. On the other hand, Class Others industrial condominiums showed a decrease in net absorption, reaching 5.81 thousand m², with an increase in the vacancy rate, which now stands at 8.60%.
Occupancy, Vacancy Rate, New Stock and Construction Activity
Industrial and Logistical Condominiums (Class A and Others)
Net Absorption and Vacancy Rate
Industrial and Logistical Condominiums
Ocupantes’ methodology for classifying Logistics Condominiums can be summarized as follows:
“Class A” condominiums: Warehouses with high technical specifications | “Other Class” Condominiums: Warehouses with lower technical specifications.
Rio de Janeiro
Closing the last quarter of 2023, the industrial and logistics condominium market in the State of Rio de Janeiro presented some interesting numbers. Total stock remained stable at 2.90 million m², while the vacancy rate fell to 16.74%, resulting in 485 thousand m² of available space. Furthermore, gross absorption decreased, reaching 50 thousand m². With regards, to the construction activity, it had a significant increase, reaching 220 thousand m², and the average rental asking price also rose, ending the period at R$21.16/m² per month.
In the Class Others industrial condominiums segment, there was a net absorption of 5.60 thousand m² and a reduction in the vacancy rate, ending the year at 17.96%. On the other hand, the Class A industrial and logistics condominium market also experienced a drop in its vacancy rate, closing the quarter at 16.65% and presenting a net absorption of 19,600 m².
Occupancy, Vacancy Rate, New Stock and Construction Activity
Industrial and Logistical Condominiums (Class A and Others)
Net Absorption and Vacancy Rate
Industrial and Logistical Condominiums
It is important to highlight that past trends do not guarantee future results. Ocupantes does not assume responsibility for decisions made based on this information. The information presented in this document is updated based on the publication date and may undergo changes until the next edition.
